Las Vegas, NV Area October 2009 Pendings Report: Pendings DROP, Inventory DOWN, Closes HAPPENING
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for November 2009 is a seller's market @ 2.7 months of inventory. Some micro-markets (ie,Foreclosures Bank Owned, REO) are extreme seller's markets where there is no mercy to the buyers, multiple offers are the norm! We are FINALLY seeing a stabilization of inventory and a decrease with escrows (we should have seen that late spring/early summer!) Good news for buyers? Still remains to be seen. We need to get over 10000 active units on the market before it can be stabilized from a seller's market Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas) Listings (12/15/2009): 10332 Under Contract (12/15/2009): 14136 Sold Novem...